Bubble is bursting. It's going to be tricky getting support if people don't have cash at mtgox. It takes a few days to get there, but if anyone wants to panic sell, it's super easy to get bitcoins there quickly.

If this drop continues any more, it will be interesting seeing the fortitude of the big holders to see if they unload or if they hold through a potentially ugly crash.

It dropped below 5.85, then jumped back up above 7. I would say the $9 bubble burst (temporarily) but it's not like bitcoin suddenly got totally annihilated, calm down. I get a funny image of OP in the 1920s causing a run on the market. But this should at least serve as a reminder to people that unprecedented growth does not continue forever, at least not in the short term.

I expect there to be some voltaility as people like OP panic, but if it will totally crash, this I doubt.

No, I'd say it's the market correcting. I tend to be contrarian; while folk were suggesting that now (now being a few days ago) was an excellent time to invest in mining, I was suggesting caution (the last time people were saying that was when bitcoin was approaching 1.1 USD - it then stagnated for six weeks, declining to just above 0.5 USD). I see a similar thing happening now - the market corrects after a big peak, and a some point it'll pick up again. Sucks to be a miner right now, particularly if you've just invested heavily in hardware, but things will almost certainly improve.

Sold my BTC? Well, I did sell some today (before prices started falling) but it was down to sheer dumb luck and had nothing to do with believing the market was peaking. In the long term I believe bitcoin will go much higher - and I'm in it for the long haul.

Then clearly you either really like Civ5, or don't understand basic math.

Well, I did fail 9th grade due to Civilization 1, but it's more that I only discovered BitCoin last Friday, had an HDD die on me while mining (Taking my private key with it! ) and that my wallet holds a meer 6.73 BTC.

Keep in mind everyone also thought the bubble was bursting when it hit a high of $4.15 and then dropped to around $2.50. What happened was it went back to the 3s and stayed there a few days before the current rally.

Value of BTC was increasing faster than difficulty. This was extected sooner or later.

If it was speculation, then wait. Sooner or later speculators will do they moves again.If it was just a bubble, then its good after all it burst, cuz some ppl wont lose they money investing in hardware and demanding astonnishing payouts.

To be honest I'm miner for like 5 days and this situation isnt anything bad to me or to the community. Now we will know more or less true value of BTC and we will know that its possible to get some profits too when next peak will come.

ORWhat came to my mind:These are next speculations to drive down price and buy everything cheaper. We all know it will get lower than it should be due to panic, so buying in good moment can give nice income.

Well, I did fail 9th grade due to Civilization 1, but it's more that I only discovered BitCoin last Friday, had an HDD die on me while mining (Taking my private key with it! ) and that my wallet holds a meer 6.73 BTC.

Well, I did fail 9th grade due to Civilization 1, but it's more that I only discovered BitCoin last Friday, had an HDD die on me while mining (Taking my private key with it! ) and that my wallet holds a meer 6.73 BTC.